Panagora Asset Management Inc. Grows Position in MercadoLibre, Inc. $MELI

Panagora Asset Management Inc. boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,124 shares of the company’s stock after acquiring an additional 2,853 shares during the quarter. Panagora Asset Management Inc. owned about 0.07% of MercadoLibre worth $66,720,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in MercadoLibre in the second quarter worth $29,000. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre in the fourth quarter worth $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre in the fourth quarter worth $26,000. Curio Wealth LLC purchased a new position in MercadoLibre in the fourth quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in MercadoLibre in the third quarter worth $35,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,589.60 on Monday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22. The company has a market capitalization of $80.59 billion, a P/E ratio of 41.95, a PEG ratio of 0.98 and a beta of 1.36. The business has a 50 day moving average price of $1,715.68 and a 200 day moving average price of $1,872.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the previous year, the business earned $9.74 earnings per share. The business’s revenue for the quarter was up 49.0% on a year-over-year basis. Sell-side analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on MELI shares. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research report on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Tuesday, June 2nd. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Finally, Morgan Stanley dropped their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.